Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lowered its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 6.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 129,330 shares of the information technology service provider's stock after selling 8,846 shares during the period. Los Angeles Capital Management LLC's holdings in Cognizant Technology Solutions were worth $9,982,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in CTSH. International Assets Investment Management LLC bought a new position in Cognizant Technology Solutions during the 3rd quarter worth approximately $1,972,000. Blair William & Co. IL grew its holdings in Cognizant Technology Solutions by 2.5% during the 1st quarter. Blair William & Co. IL now owns 16,795 shares of the information technology service provider's stock valued at $1,231,000 after buying an additional 412 shares in the last quarter. Trinity Legacy Partners LLC grew its holdings in Cognizant Technology Solutions by 14.3% during the 3rd quarter. Trinity Legacy Partners LLC now owns 60,291 shares of the information technology service provider's stock valued at $4,629,000 after buying an additional 7,547 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in shares of Cognizant Technology Solutions by 8.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 650,385 shares of the information technology service provider's stock worth $47,667,000 after purchasing an additional 53,061 shares during the period. Finally, Cetera Investment Advisers raised its position in Cognizant Technology Solutions by 135.4% during the 1st quarter. Cetera Investment Advisers now owns 33,305 shares of the information technology service provider's stock valued at $2,441,000 after purchasing an additional 19,157 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Price Performance

Shares of CTSH traded up $0.07 during mid-day trading on Tuesday, reaching $81.57. 639,460 shares of the company's stock were exchanged, compared to its average volume of 3,811,253. The company has a market cap of $40.44 billion, a price-to-earnings ratio of 18.03, a PEG ratio of 2.21 and a beta of 1.05. The company has a 50-day simple moving average of $76.54 and a two-hundred day simple moving average of $72.53. Cognizant Technology Solutions Co. has a 52-week low of $63.79 and a 52-week high of $82.19. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.08.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, topping analysts' consensus estimates of $1.15 by $0.10. The company had revenue of $5.04 billion during the quarter, compared to analyst estimates of $4.99 billion. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The business's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.16 EPS. On average, sell-side analysts predict that Cognizant Technology Solutions Co. will post 4.66 EPS for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend is Tuesday, November 19th. Cognizant Technology Solutions's dividend payout ratio (DPR) is currently 26.55%.

Wall Street Analyst Weigh In

A number of research firms have commented on CTSH. Needham & Company LLC restated a "hold" rating on shares of Cognizant Technology Solutions in a research report on Thursday, October 31st. Robert W. Baird upped their target price on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. TD Cowen lifted their target price on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a "hold" rating in a report on Thursday, October 31st. Daiwa America raised shares of Cognizant Technology Solutions to a "hold" rating in a report on Tuesday, August 27th. Finally, Bank of America upgraded shares of Cognizant Technology Solutions from an "underperform" rating to a "neutral" rating and upped their price objective for the stock from $73.00 to $75.00 in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Cognizant Technology Solutions currently has a consensus rating of "Hold" and an average target price of $78.83.

Cognizant Technology Solutions Company Profile

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. It operates through four segments: Financial Services, Health Sciences, Products and Resources, and Communications, Media and Technology.